Last $23.16 USD
Change Today -0.23 / -0.98%
Volume 64.9K
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

berkshire hills bancorp inc (BHLB) Key Developments

Berkshire Hills Bancorp Inc. Announces Board Changes

Berkshire Hills Bancorp Inc. announced that William J. Ryan has been appointed to its Board of Directors as Chairman. Mr. Ryan was formerly Chairman of the Board and CEO of TD Banknorth. The company announced that Lawrence A. Bossidy has retired from Berkshire's Board of Directors.

Berkshire Hills Bancorp Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Loan Charge-Offs for the First Quarter Ended March 31, 2014; Declares Cash Dividend, Payable on May 29, 2014

Berkshire Hills Bancorp Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total interest and dividend income of $49,795,000 against $50,881,000 last year. Total net revenue was $47,189,000 against $56,735,000 last year. Net interest income was $42,766,000 against $41,937,000 last year. Loss before income taxes was $1,567,000 against income before income taxes of $14,852,000 last year. Net loss was $1,106,000 or $0.04 per basic and diluted share against net income of $10,465,000 or $0.42 per basic and diluted share last year. Core earnings per diluted share were $0.42 against $0.54 last year. Tangible book value was $15.84 as on March 31, 2014 against $15.87 as on March 31, 2013. Total book value per share measured $26.99 and $27.08 at these dates, respectively. Core return on assets was 0.71% against 1.03% last year. Negative return on assets was 0.08% against return on assets of 0.80% last year. Core return on equity was 6.02% against 8.10% last year. Core return on tangible equity was 10.84% against 14.57% last year. Negative return on equity was 0.34% against return on equity of 6.28% last year. Total core income was $10,412,000 against $13,487,000 last year. Total core revenue was $57,328,000 against $56,735,000 last year. Core earnings per share decreased primarily due to lower income on real estate related loans resulting from interest rate related market shifts in 2013. Total net interest and fee revenue was $55.4 million in the most recent quarter, which was a 9% increase over the prior quarter, and 2% lower than the first quarter of the previous year due to the decline in residential mortgage fees. For the quarter, the company reported net loan charged-off of $3,117,000 against $2,345,000 last year. The Board of Directors voted to declare a cash dividend of $0.18 per share to shareholders of record at the close of business on May 15, 2014, payable on May 29, 2014. This dividend equates to a 2.8% annualized yield based on the $25.56 average closing price of Berkshire's common stock during the first quarter of 2014.

Berkshire Hills Bancorp Inc. to Report Q1, 2014 Results on Apr 28, 2014

Berkshire Hills Bancorp Inc. announced that they will report Q1, 2014 results After-Market on Apr 28, 2014

Berkshire Hills Bancorp Inc., Q1 2014 Earnings Call, Apr 29, 2014

Berkshire Hills Bancorp Inc., Q1 2014 Earnings Call, Apr 29, 2014

Berkshire Hills Bancorp Inc. Presents at SunTrust Robinson Humphrey's Annual Financial Services Unconference, May-21-2014

Berkshire Hills Bancorp Inc. Presents at SunTrust Robinson Humphrey's Annual Financial Services Unconference, May-21-2014 . Venue: Le Parker Meridien, 119 W 56th St, New York, NY 10019, United States.

 

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BHLB

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Valuation BHLB Industry Range
Price/Earnings 19.5x
Price/Sales 2.6x
Price/Book 0.8x
Price/Cash Flow 19.7x
TEV/Sales NM Not Meaningful
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